ACT Research: Weak freight fundamentals and declining demand warrant caution ahead
With the 2024 order season opening in September, the Class 8 backlog increased by 8,700 units from August to 161,300 units, and the backlog-to-build ratio increased to 5.5 months, according to the latest numbers from ACT Research. “Order season for 2024 kicks off with mixed conditions across the various Classes 5-8 vehicle end-markets,” said Kenny
September numbers show spike in trailer orders
ACT Research: “While this certainly is a welcome sign for the industry, one month of robust orders does not guarantee the full year.”
ACT Research: Forecast expectations for Class 8 and trailers moderate
ACT Research forecasts for both Class 8 trucks and trailers have been lowered, as the recovery in freight markets remains elusive.
Class 8 truck order season kicks off with 36,800 units
Classes 5-7 net orders were more trend-like, rising 13% m/m to 23,100 units, according to the press release.
Freight markets remain soft amid private fleet expansion
The reduction in capacity within the for-hire sector is starting to create potential for improved market conditions, but this positive outlook could be jeopardized…
Trailer orders fall slightly in August
This is the seasonally weakest time of the year for forward-looking metrics, ACT noted.
ACT Research projects weaker U.S. tractor market in 2024
Those factors include ongoing pent-up vocational truck demand, strong tractor demand in Mexico, and labor hoarding.
Industry leaders share thoughts on where the trucking industry is going at ACT seminar
Industry leaders talked about the transition to EVs, what’s anticipated for fleers in the next 18 months, and how fleets feel about the future.
Equipment demand likely to fade into year end
The silver lining: vocational truck demand remains strong.
ACT Research says half of all commercial vehicles will be zero emissions by 2040
By 2027, eight states will have joined California in adopting Advanced Clean Trucks, resulting in moderate growth in adoption rates.
Used truck sales uncharacteristically high in August
Compared to July, average retail price increased 1%, while miles and age both declined 1%.
August Class 8 truck orders the best month since February
This represents the highest monthly performance since February and the third consecutive month with orders exceeding 20,000 units.